Telefónica’s social action programme – Telefónica Think Big – was yesterdayinaugurated into the Clinton Global Initiative (CGI), a movement founded by the 42nd President of the United States to help turn good intentions into real action and results.

Telefónica’s commitment – ‘Telefónica Think Big: A More Entrepreneurial Europe’– was presented during a special session entitled ‘The Case for Optimism in the 21st Century’ at the CGI Annual Conference in New York City. The session’s focus was on youth empowerment and creating a more sustainable future – issues critical in Europe’s current socio-economic climate.

“With one-in-five youths unemployed today in Western Europe, we are facing a potential lost generation that is ill-equipped to succeed in the modern digital job market,” said José María Álvarez-Pallete, Chief Operating Officer, Telefónica. “Recognising that the social and economic future of Europe is at stake, Telefónica Think Big is taking real action to improve educational opportunities across the region – in particular providing sorely-needed skills in the digital technology and entrepreneurial space.”

Telefónica has pledged $37 million annually towards five programs that comprise the Think Big initiative, including the Think Big Youth Movement; Talentum; Wayra and Campus Party. Telefónica Think Big aims to directly impact 250,000 individuals in Europe by the end of 2015.

Telefónica’s commitment to the CGI was formalised when José MaríaSanz Magallon, Telefónica’s Director of International Corporate Communications, joined Chelsea Clinton on stage at CGI’s Annual Conference yesterday.

In 2012, Telefónicacommitted to launch a collection of progressive programs stemming from a belief in the power of young ideas and the best technology to create a potent force for progress across Europe. The four initiatives collectively known as ‘Telefonica Think Big’, were launched to address these critical issues facing European youth: a lack of job opportunities, a lag in European entrepreneurship, and a shortage of youth with digital skills. Each programme encourages innovative thinking, entrepreneurialism and digital technology – stimulating young ideas and young enterprise across the region.